Malaysia’s Serba Dinamik to raise $53.5m for gearing, working capital

The Petronas Towers peek through palm trees. Kuala Lumpur, Malaysia.

Malaysia’s Serba Dinamik Holdings Bhd is looking to raise up to 232.9 million ringgit ($53.45 million) by selling new shares to reduce gearing and for general working capital requirements, according to a term sheet seen by Reuters.

The firm, which provides engineering solutions for the oil and gas and power generation industries, is offering more than 153 million new shares, equivalent to 5% of its existing outstanding shares, priced at a discount between 1.49-1.52 ringgit per share.

At that range, the company will raise between 228.3 million ringgit and 232.9 million ringgit. Bookbuilding began on Thursday, the document showed.

Serba Dinamik did not immediately respond to a request for comment.

Affin Hwang Investment Bank, CIMB Investment Bank and Credit Suisse are the appointed bankers for the share placement exercise.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.